Saudi Arabia Directional Drilling Market is expected to dominate by Rotary Steerable System segment.
Rising
investment in drilling technologies are propelling the market growth in the
forecast period.
According
to TechSci Research report, “Saudi Arabia Directional
Drilling Market – By
Region, Competition, Forecast & Opportunities, 2028”,
Saudi Arabia Directional Drilling Market continue
to grow in the forecast period due to growing utility installations and
investments in shale gas extraction projects, as well as rising expenditure on
various improvements throughout the telecom industry to provide high-speed
connectivity. By 2025, 11,100 runs are anticipated to be required in KSA for
directional drilling. By 2025, 20,700 runs are anticipated to be required for
directional drilling throughout the GCC.
Drilling in a direction
other than vertically to access a subsurface oil or petrol resource is known as
directional drilling. Another name for directional drilling is directional
boring. Directional drilling can reduce the environmental effect while
improving the efficiency of oil and gas extraction.
The
Saudi Arabia Directional Drilling Market is divided into type, component, service, technology, location,
and region. Based on type, the market is segmented into conventional system and
rotary steerable system. Based on component, the market is segmented into drilling
tool rental, rig rental, OCTG rental, consumables, and others. Based on service,
the market is divided into drilling, logging-while-drilling, and measurement-while-drilling
& survey. Based on technology, the market is segmented into wellbore
positioning, side tracking, well planning, and others. Based on location, the
market is segmented into onshore and offshore. Based on region, the market is
segmented into northern & central region, western region, eastern region, and
southern region.
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Based on Location, over
the forecast period, the offshore segment is anticipated to experience the
highest growth, with a CAGR and a market share is approximately more than 55%.
Exploration and production activities are expected to be carried out on a
larger scale, in the near future due to the enormous untapped oil and gas
resources. Also, the average breakeven price for all unapproved projects is
falling, which lowers the cost of offshore oil production. Additionally,
onshore projects are more economical than offshore horizontal directional
drilling operations since they require less infrastructure and upkeep. The
market projects are being significantly impacted by the volatility of crude oil
prices. Moreover, horizontal and extended reach wells are frequently employed
to develop offshore oil and gas reserves, primarily because they can reduce the
number of platforms needed. Increasing investments in the industry and
impending exploration and production operations in the offshore segment are
projected to be the key drivers of the forecasted large growth in demand for
directional drilling services in the offshore sector.
Based on type, the market is segmented into conventional
system and rotary steerable system. Rotary
Steerable System will dominate the market as the Rotary Steerable System (RSS)
offers superior performance and more cost effectiveness. Several equipment,
including whipstock, bent sub, directional bottom hole assemblies (BHA),
traditional steerable motors, and rotary steerable systems, can be used to
drill directional wells. Rotational Steering System(RSS) compared to the
typical steerable motor provides a smoother borehole and reduced tortuosity.
Indirect benefits from these conditions include a shorter installation time for
casing and better logging data quality. In conclusion, the use of RSS in the
Mavvar field provides both technical and financial benefits.
Major
companies operating in the Saudi Arabia Directional Drilling Market are:
- Schlumberger Saudi Arabia Limited Company
- Weatherford Energy Services Saudi Arabia Co. Ltd
- Halliburton Company
- Baker Hughes Saudi Arabia Co
- Nabors Industries Ltd
- National Oilwell Varco Inc
- Valaris PLC
- Noble Corporation PLC
- Saipem SpA
- Arabian Drilling Company
It is reasonable to state that, given the rapidly
changing nature of technology, effective research and development of
cutting-edge products and services would foster market expansion and profit
both customers and industry participants. New market players could concentrate
on research and development to provide equipment that meets suppliers' demands
and helps the market players increase the value of their brand.
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“The rise of the
Saudi Arabia oil drilling business will be fuelled by a boom in private and
commercial automobiles around the world during the next five years. Also, due
to domestic technology breakthroughs and their contribution to global
technological advancements, the market will undoubtedly expand over the next
five years. To manage and maintain the legal requirements for offshore and
onshore oil drilling processes and production, as well as the distribution and
supply of the oil and by-product gases, government authorities have regulatory
bodies and schemes in place. This will help the market grow over the next five
years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
Saudi Arabia Directional Drilling Market Segmented By Type
(Conventional System, Rotary Steerable System), By Component (Drilling Tool
Rental, Rig Rental, OCTG Rental, Consumables, Others), By Service (Drilling,
Logging-While-Drilling, Measurement-While-Drilling & Survey), By Technology
(Wellbore Positioning, Side Tracking, Well Planning, Others), By Location
(Offshore & Onshore), By Region, Competition Forecast and Opportunities, 2018-2028”, has evaluated the future growth potential of Saudi Arabia Directional Drilling Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision-makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the Saudi Arabia Directional Drilling Market.
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